GBPUSD broke above 1.6668 resistance and the upward movement from 1.6252 extends to as high as 1.6822. Support is now at 1.6670, as long as this level holds, the uptrend could be expected to continue, and next target would be at 1.6900 area.
The GBPUSD is a killer right now. The pair has found support around the 1.6600 level, and now traded back above the 1.6700 level again. However, I doubt that the pair can sustain momentum above the 1.6700 region. SO, watch and trade very carefully.
I think the resistance extends up to 1.6730-40, otherwise the swings don't make a whole lot of sense. Of course the made everything a tad more complicated, but still, I'm not seeing cable bulls being in charge at all.
GBPUSD is again trying to break the 1.6740/50 level. Let's see whether the pair can manage to break and close above this level or not. I will be waiting for a break to trade this pair.
GBPUSD is struggling to take out the 1.6740 level again. This is the third attempt to break the same level. I think the buyers will break it in the next attempt. The range trading is very annoying at times. There is no major move by the pairs. The GBPUSD is also stuck in a range, Let's see whether we can witness a break in the short to medium term or not.
The major hurdle at around the 1.6740 is proving to be a line of defense for the sellers. Any strength above this might trigger heavy gains for the pair in the short term.
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